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Morgan Stanley IM launches income version of Global Brands fund

Morgan Stanley IM launches income version of Global Brands fund

Morgan Stanley Investment Management has launched an equity income version of its popular Global Brands fund, Citywire has learned.

The Global Brands fund currently has $6.3 billion in assets under management. This new approach, formally called the Morgan Stanley Global Brands Equity Income fund, will continue to invest in developed world equities on a concentrated basis with an emphasis on dividend-paying stocks.

A spin-off of the existing Global Brands fund, it will seek to generate regular income for investors. The new fund was launched as a Luxembourg-domiciled strategy on April 29 and is benchmarked against the MSCI World TR USD.

According to fund literature, it will echo the existing fund by focusing on companies whose success is based on intangible assets, meaning brand names, copyrights and methods of distribution.

The Morgan Stanley Global Brands is co-run by a team including Citywire + rated managers Bruno Paulson and William Lock. Morgan Stanley IM declined to offer a formal comment on the launch.

The Morgan Stanley Global Brands fund returned 20.3% in US dollar terms over the three years to the end of April 2016. This compares to a 19.2% rise by its Citywire-assigned benchmark, the FTSE World TR USD, over the same period.

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